BRIDGETOWN, Barbados, October 17, 2019 (CMC) – Regional central banks are conducting a survey to determine how people in the Caribbean pay for goods and services.
“The survey is being conducted across the Caribbean (and) the information collected is going to be used in a wider study…and the information will be very useful to informing the policy that will be implemented in the future,” said Deputy Director of Research and Economic Analysis at the Central Bank of Barbados, Darrin Downes.
“The survey is intended to allow central banks to better understand the preferences and perceptions that individual consumers will have about different forms of digital payment, and the use of cash and the information collected will form part of a larger study that is being conducted by the central banks in the region,” he said, noting that the online survey, found on the website of the various central banks, will end on October 25.
Downes said that in recent times there has been a growing interest by central banks in the region, and across the world, on the different innovations occurring in finance, including the different types of payment methods that are used by consumers.
“As you can imagine central banks, as the guardians of monetary and financial stability, this type of information would be important to us, understanding people’s preferences, and their perceptions about the different payment methods.
He said persons will be asked to identify the kind of payment method being used, be it cash, credit, debit cards, online banking “and their preferences for using those particular types of methods and the circumstances in which they will be using them”.
‘We are requesting that individuals across all types of background and ages take the survey,” he added.